The White House’s defense of the $200,000 payment Joe Biden received from his brother James Biden is not backed up by the bank records possessed by the House Oversight Committee.
House Oversight Chairman James Comer wrote a letter to White House Counsel Edward Siskel requesting financial records to back up the White House’s claim that James Biden was paying off a loan from Joe Biden with the $200,000 check. Comer said in the letter the bank records do not indicate Joe Biden sent his brother a large loan that needed to be paid back. (RELATED: James Biden Told Healthcare Firm His Last Name Could ‘Open Doors’ And Promised Middle East Investment, Court Docs Show)
READ THE LETTER:
“The White House has claimed Joe Biden loaned James Biden $200,000, and this check was repayment. Records obtained by the Committee do show numerous large incoming transactions into the personal account of James and Sara Biden from various entities. Some of these transaction records may have obscured the identity of the true payer, but no records in the Committee’s possession state that Joe Biden made a large loan payment to his brother,” Comer’s letter reads.
White House spokesperson Ian Sams said on Twitter on Friday that James Biden’s $200,000 payment was a loan repayment. The check sent by James Biden classifies the payment as a loan repayment, according to an image of the check released by the Oversight Committee.
Jamie Comer is pretty desperate to try to distract from Republicans’ speaker mess.
It’s a loan repayment from when President Biden loaned his brother money. When he was out of office in 2018, no less. It’s right there on the check!
Matt Gaetz was right:
More “Failure Theater!” pic.twitter.com/Do0DopiX8r
— Ian Sams (@IanSams46) October 20, 2023
“If Joe Biden did personally loan James Biden an amount that was later repaid by the $200,000 check, please provide the loan documents, including the loan payment, loan agreement, and any other supporting loan documentation,” Comer’s letter continues.
He also points out the IRS reporting requirements surrounding loans sent as gifts and the lack of apparent interest payments from James Biden on the alleged loan.
“The current lack of documentation leaves reason to doubt claims that this transaction was repayment for a legal loan. We request documentation clarifying the nature of this payment and whether all applicable documentation and IRS filings were properly made.”
🚨 BREAKING 🚨
— Oversight Committee (@GOPoversight) October 20, 2023
Americore loaned James Biden a total of $600,000 based on his signals that the Biden name could “open doors” and his promise that he could secure a Middle East investment by leveraging political connections, bankruptcy court documents show.
The Oversight Committee subpoenaed Hunter and James Biden’s personal and business bank records in late September after the first impeachment inquiry hearing. Comer said in a video shared on Twitter on Friday that more information from the bank records will be shared at a later date.
Henry Rodgers contributed to this report.